JPMorgan Chase & Co. Raises DT Midstream (NYSE:DTM) Price Target to $142.00

DT Midstream (NYSE:DTM) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $126.00 to $142.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 0.23% from the company’s previous close.

Other analysts have also issued reports about the stock. Citigroup increased their price target on shares of DT Midstream from $130.00 to $156.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Morgan Stanley boosted their price objective on shares of DT Midstream from $137.00 to $139.00 and gave the company an “underweight” rating in a research report on Tuesday, February 10th. Barclays upped their price objective on shares of DT Midstream from $119.00 to $141.00 and gave the company an “equal weight” rating in a research note on Thursday. Jefferies Financial Group set a $148.00 target price on shares of DT Midstream and gave the stock a “buy” rating in a research report on Friday, February 20th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of DT Midstream in a research note on Wednesday, January 21st. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $139.64.

DT Midstream Stock Performance

Shares of DTM stock opened at $141.67 on Thursday. The company has a market capitalization of $14.41 billion, a price-to-earnings ratio of 32.87, a P/E/G ratio of 2.90 and a beta of 0.75. DT Midstream has a 1-year low of $83.30 and a 1-year high of $143.15. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.68. The stock’s fifty day simple moving average is $127.37 and its 200-day simple moving average is $117.30.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Thursday, February 19th. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.03). DT Midstream had a return on equity of 9.13% and a net margin of 35.48%.The business had revenue of $317.00 million during the quarter, compared to analysts’ expectations of $320.07 million. During the same period in the prior year, the company posted $0.94 earnings per share. On average, sell-side analysts predict that DT Midstream will post 3.8 earnings per share for the current fiscal year.

Insider Activity at DT Midstream

In other news, CFO Jeffrey A. Jewell purchased 185 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was acquired at an average price of $136.33 per share, with a total value of $25,221.05. Following the purchase, the chief financial officer owned 89,583 shares in the company, valued at $12,212,850.39. This represents a 0.21% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On DT Midstream

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewEdge Wealth LLC grew its position in DT Midstream by 2.4% in the fourth quarter. NewEdge Wealth LLC now owns 3,613 shares of the company’s stock worth $432,000 after acquiring an additional 85 shares in the last quarter. Covestor Ltd raised its holdings in shares of DT Midstream by 11.2% during the 4th quarter. Covestor Ltd now owns 897 shares of the company’s stock valued at $107,000 after purchasing an additional 90 shares in the last quarter. Richardson Financial Services Inc. lifted its stake in shares of DT Midstream by 62.7% in the 4th quarter. Richardson Financial Services Inc. now owns 244 shares of the company’s stock valued at $29,000 after purchasing an additional 94 shares during the last quarter. VestGen Investment Management lifted its stake in shares of DT Midstream by 1.2% in the 4th quarter. VestGen Investment Management now owns 7,698 shares of the company’s stock valued at $921,000 after purchasing an additional 94 shares during the last quarter. Finally, Pathstone Holdings LLC boosted its holdings in DT Midstream by 0.3% in the third quarter. Pathstone Holdings LLC now owns 28,322 shares of the company’s stock worth $3,215,000 after purchasing an additional 97 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.

DT Midstream Company Profile

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.